The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1887-06-28
S2,OOO,OOO 90

NOllS lllto uttulls, VIC hiiu thoV thS
Loan was hoated in London on the
representations on the part OF Ha-
waiian Government agents that out
of the $2,O00,0O0 to be raised, $685.
600 or 4 of total Loan was to be de-
voted towards permanent improve
ments and encouragement of immi-
grafton, but as yet only Sl31 ,G2O.71
has gone for these objects. 1t would
be worth while for the London bond
holders to appoint a committee to
watch that the balance OF money un-
expended be spent on improvements
according to the Act, and not fritter-
ed away on senseless baubles and
bribes to palace favorites.
As regards the encouragement of
immigration, the Government state
that SAG .O96.51 has been spent under
this heading. The amended Loan
Act was approved on 18th October
last and since that date no immi-
grants have been introduced here
under Government auspices, the last
arrivals being the Portuguese who
landed from the Amana in Scptem-
Der last. Perhaps the $4,000 odd
went on account of the Amana ship
ment consisting OF 251 adults and
237 children; ii so, | want to know
how much was paid for commissions
and to agents and officials of the
Bureau of immigration and how
much for fares and food of immi-
grants. At this rate the $15O,OOO al
lotted for immigration purposes will
only serve to pay for the introduce
ton of about 800 more adults and a
like number of children. Certainly
it will not help much towards "Hoo-
ulu Lahui."
For electric lighting $6,359.H has
been spent. What has been done in
this line has been confined to the
palace and approaches and front of
| Gibsons house, whilst Fort and other
main business streets and the wharves
have been left in total darkness.
Next comes one of the most inter
esting parts of the business, the ex-
penses of floating the loan. Com
mission is allowed by the Act at the
stiff rate of 5 per cent, and the
amount stated as paid for the 81 ,5OO,-
600 tloated is $29,970, but there is
also another item that must be
reckoned on when calculating the
expense of the Loan. This is the
saarge item of $93O06.47 for Sundry
Disbursements" and "Cash on hand''
very cunningly slumped together.
AS the Government, like George
Washington, cannot tell lie, we
will allow that there is some cash IN
hand, say the odd $6.47, leaving a
balance OF $4,000 unexplained on
the part OF the Government. No
margin or allowance is made in the
Loan Act for "Sundry Disburse-
ments," so in the absence OF any ex-
planation, this $4,000 can only be
treated rs part expense of floating
the Loan. $29,970 and $4,000 to.
gether make $l22,97O or over 8 pei
cent on $l,5Q0,000, certainly tidy
sum to go towards swelling some
ones bank account. Whilst the rate
payers are bled to the above extent
for bonuses and commissions, abso'
| lutCly iotIiiiS iius pCcIl uOhc W.
wards getting the inter-island cable
improving the streets and harbor
and wharves of Honolulu, or the
roads, bridges and landings OF the
Kingdom.
No explanation is offered by the
Government as to what has become
of the 100000 raised in London, but
the present whereabouts of which
is not given in the Government state
ment, Rumor says that it has gone
towards paying for pleasure yacht
for the King and liquidating the ex-
penses OF the Queens trip to Europe.
Lastly, n writer in n local news
paper, has done well in pointing out
the bungle perpetrated in the mode
OF issuing the bonds, j. c., ii the Gov
ernment figures are correct. Calcu-
lating the sterling as equal to $5
instead of doing so at the present
course of exchange between the
States and England, viz: about
$4.S6, means loss to Hawaiian rate
payers when the 81 100000 bonds
are repaid at maturity in London, OF
no less than $4,000. Verify "Plun-
dering and laundering" are the chief
features of our present Government,
and the sooner it is abolished the
better for all parties both native and
foreign. ONLooKER.